Did Someone Really Just Pay $82,000 for a Single Bitcoin? – Decrypt

In brief

  • Something strange happened today in the world of Bitcoin trading.
  • On Binance, Bitcoin price hit a high of “$82,000” during the early morning.
  • All signs point to some kind of error.

File this one under “only in crypto.”

While some keen market observers wait for the price of Bitcoin to break it’s all-time high of nearly $20,000, a few traders on Binance—the world’s largest crypto exchange by volume—watched the coin go to the moon today. Even if only for a brief moment.

Bitcoin broke past $20,000 and hit a whopping $82,000… then quickly dropped back down again, as if nothing had happened. Intrigued? So were we…

According to the BTC/TUSD chart on Binance, an extremely long wick appeared at 1am ET on November 17. Bitcoin started its green candle at $16,626, lit a wick at exactly $82,000, and closed the 60-minute trip at $16,635.

BTC-TUSD trading pair on Binance. Image: Binance

The rest of Bitcoin’s pairs against the US dollar or its stablecoin equivalents (USDC, BUSD, DAI, PAX, and USDT) were unaffected. Trading volume during the rally didn’t show any anomalies either. There was indeed a spike in volume, but nothing out of the ordinary.

What happened?

It’s hard to know for sure, but considering the relatively low trading volume during the period of time compared to the absurd price spike to $82,000—and the fact that Crypto Twitter didn’t